XYZ (Proprietor) is registered with GST. 1) Owning Sweet and Namkeen Shops and Manufacturing Factory of Sweets and Namkeen. 2) Owning Commercial Premises given on rent. On both activities XYZ is charging GST. Now, the Sweet and Namkeen activity to be converted from Proprietor to Private Limited Company and the Commercial Premises will continue to be in the name of Proprietor. What is the procedure to be followed for this changed scenario?
For pvt ltd. company, a new GST registration need to be carried out, while rental income will get assessed in proprietors file.
Both activity will get segregated with 2 GST nos. & even two different PANs..
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CAclubindia
